Is the Party Over for Carvana Stock?
If you based your opinion only on the stock market's short-term double-digit sell-off in reaction to 's (NYSE: CVNA) third-quarter results last week, you might think the best days for the online auto sales leader were behind it -- or at the very least, that some pretty dismal times were ahead of it.
But if you step back, dig into the numbers, look at the industry competition and deep support on Wall Street, you might come to a different conclusion about the Arizona-based retailer's prospects.
For starters, Carvana came into earnings day riding about a 90% year-to-date gain, and an all-time high hit in July -- far outpacing its auto and retail industry peers. While Carvana's Q3 GAAP earnings per share (EPS) fell well short of analysts' consensus estimate ($1.03 versus $1.32), the miss marked only the first time in 11 quarters that the company delivered a bottom-line disappointment.
Source Fool.com
Carvana Co. Stock
With 59 Buy predictions and not a single Sell prediction Carvana Co. is an absolute favorite of our community.
At the moment Carvana Co. has reached the predicted target price of 396 €, with a current price of 393.9 €.
